Korea must mend its ways to achieve sustainable growth

Standard & Poor''s says Korea must show a willingness to adopt international best practices if it is to achieve growth.

International credit rating agency Standard Poor's says that Korea must show further commitment to international best practice throughout the corporate, government and financial sectors if it is to achieve sustainable economic growth in the future.

Remarking on the long-established practices of reputation-based lending, of placing revenue growth ahead of profitability and lack of market transparency, SP's managing director of corporate and government ratings for North Asia, Robert Richards, feels that, without change, Korea runs the risk of tarnishing...